An Aotearoa Plan of Action aims for an "open, dynamic, resilient, and peaceful Asia-Pacific community by 2040," reports Xinhua News Agency. It was launched at the 28th APEC Economic Leaders' Meeting in Danang, Papua New Guinea.The pivotal aspects of the economy—sustainablegrowth,investment and innovation, trade, and digitalization—have become the circumcenter of the collective action.
The World Trade Organization will be aiding APEC members to regulate the trade flow smoothly, taking all the necessary protocols into consideration. Also, the members have pledged to ensure reliability through energy transitions, promoting budget-friendly and eco-friendly technologies.
Members of the APEC will accelerate their digital transformation by improving the digital infrastructure, bridging the digital gapand guaranteeing the seamless flow of data to improve the consumer experience for people in the region.
The leaders of the 21 APEC countries have discussed how to respond to Covid-19. As a consequence of the pandemic, APEC is working to guarantee that the economic crisis in APAC does not damage the lives of its members. To boost the economy, it is making a greater effort to regulate vaccinations and other vital medical goods.
They have also come forward to support all the regional and international alliances that are concerned with Covid-19. In accordance withall the reforms that lead to its structural transformation, APEC warmly welcomes APEC Agenda for Structural Reform with a notion of it being a key element for the recovery.
People of APEC, with the ethos of strengthening the trade, stated that the WTO, the core of the rule-based multi-trading system, will play a major role in the economic recovery. Emphasizing more on regional undertakings, APEC has also promised the Free Trade Area of the Asia-Pacific (FTAAP) agenda.
The AEPC members will continue to make efforts to enhance people-to-people connectivity by implementing the APEC digital blueprint.